In this Thursday, March 28, 2013, photo, a woman works at an Abercrombie & Fitch store in Chicago. The government reports how much consumers spent and earned in March on Monday, April 29, 2013. (AP Photo/Nam Y. Huh)

Mike and Ann Jeweson, both in the twenties, are taking advantage of low interest rates to make the four-bedroom home under construction behind them their first home. (Kyndell Harkness / Minneapolis Star Tribune / MCT)

A construction worker carries a load of wood to a new home as they frame the house in Chester, Va. For the first time since June 2008, housing starts breached the one million units annualized pace. That is really good news as it points to strong construction activity, a key to stronger growth. (AP)

Joel L. Naroff is the president and founder of Naroff Economic Advisors, a strategic economic consulting firm in Bucks County. He advises companies across the country on the risks and opportunities that economic developments may have on the organization’s operating environment. An accomplished public speaker, Joel’s humor and unique ability to make economics understandable have brought him a wide following.
Reach Joel at joel@naroffeconomics.com .